ValOre Metals Corp. (“ValOre”;
TSX‐V: VO; OTC: KVLQF; Frankfurt:
KEQ0, “the Company”) today provided an exploration update
for ValOre’s 100%-owned Angilak Property Uranium Project
(“Angilak”), located in Nunavut Territory, Canada.
“Angilak represents a world-class advanced
uranium exploration project with tremendous upside potential,”
stated ValOre’s Vice President Exploration, Colin Smith. “Hosting
one of the world’s highest-grade uranium resources with favorable
metallurgy, and in a vastly-underexplored uranium-rich district, we
aim to add tangible value to future exploration programs through
the acquisition and interpretation of WorldView spectral data,
re-processing the substantial geophysical and geochemical datasets,
and a subsequent integrated targeting review for the entire
project.”
Angilak Uranium Project
Highlights
The 49,619-hectare Angilak Property is situated
in the mining- and exploration-friendly Nunavut Territory, Canada,
and has district-scale potential for uranium, precious and base
metals. Since acquisition, ValOre has invested over C$55 million on
resource delineation and exploration drilling (89,572 metres in 589
drill holes), metallurgy, geophysics, geochemistry, and logistics
across the large land package. This work supported the development
of the significant Lac 50 Trend NI 43-101 inferred resource
estimate (“Lac 50”).
The Lac 50 NI 43-101 Technical Report (effective
date March 1, 2013) defined an inferred resource estimate which
represents Canada’s highest-grade uranium resource outside of
Saskatchewan, and one of highest-grade uranium resources on a
global basis. Highlights include:
- 43.3
million pounds
U3O8 in
2,831,000 tonnes grading 0.69% U3O8. CLICK HERE for a summary table
of the Lac 50 Trend inferred resource estimate;
- Supported by 351
resource delineation drill holes totaling 62,023 metres (“m”);
- Metallurgical
results for Lac 50 demonstrate high uranium recoveries and rapid
leach kinetics. See news releases: February 28, 2013, September 11,
2013 and February 27, 2014;
- Lac 50 Trend is
a 15 kilometre (“km”) by 3 km area with excellent potential for
resource growth and new discoveries;
- Uranium
mineralization starts at surface, and has been drilled to 400 m
vertical depth;
- Upside
exploration potential includes 11 pre-resource targets with
high-grade uraniferous drill intercepts on parallel structures
outside the current resource area.
The broader Angilak Property represents a
district-scale opportunity, with ValOre’s land position covering 55
km of the margin of the highly prospective Angikuni Basin. The
planned targeting work in 2021 could have significant impact on
future exploration, discovery, and resource expansion programs.
CLICK HERE for ValOre’s May 6, 2021 video
summarizing the highlights of Angilak.
CLICK HERE for ValOre’s May 6, 2021 video
reviewing the 2021 focus for Angilak.
Q2 2021 Exploration Plans to Drive
Property-Wide Targeting and Future Discoveries
WorldView Spectral Data
Acquisition
ValOre is acquiring 466 km2 (46,600 hectares) of
new WorldView spectral data and high-spatial resolution imagery
covering 100% of the high-priority targets and prospective
basin-margin at the Angilak Property in Nunavut Territory, Canada.
The WorldView-3 (“WV-3”) satellite provides the highest-resolution
commercially available satellite imagery in the world, capturing
data to a 50-cm pixel size, with both Visible-Near-Infrared
(“VNIR”) and Short-Wave-Infrared (“SWIR”) spectra. This enables
regional spectral mapping of prospective geology, alteration, and
mineralogy at a “boulder-scale”. The Angilak WorldView data will
augment ValOre’s extensive existing exploration dataset for
Angilak, which includes district-wide geochemistry, geophysics,
geological mapping and over 89,000 m of drilling.
Geophysics and Geochemistry
Together with WorldView spectral data
acquisition, ValOre is re-processing historical Angilak geophysical
and geochemical datasets. Geophysical surveys to date include
district-wide airborne magnetics, airborne radiometrics, airborne
time-domain electromagnetics (“TDEM”), airborne frequency-domain
electromagnetics (“FDEM”), ground very low frequency
electromagnetic (“VLF-EM”), ground gravity and ground seismic.
Re-processed geophysical data will provide critical exploration
constraints on Lac 50 Trend resource expansion targets,
pre-resource drill-confirmed uranium targets and untested
geochemical anomalies throughout the Angilak Property.
The Angilak geochemical database includes
downhole multielement assay data for 589 drill holes, totaling
89,572 metres (463 core holes and 126 RC holes), 897 rock samples,
3,209 conventional soils, 1,539 Enzyme Leach soils and 75 mobile
metal ion (“MMI”) soil samples. ValOre’s 2021 focus will include
state of the art re-processing of the extensive drill assay
database, followed by an integrated targeting review for the entire
district.
The application of WorldView spectral data
paired with re-processed geophysical datasets at ValOre’s
100%-owned Pedra Branca Platinum Group Elements (“PGE”) Project in
northeastern Brazil led to the 2020 drilling discovery at the C-04
target, which graded up to 7.95 grams per tonne palladium +
platinum + gold (“g/t 2PGE+Au”) at surface and returned 2PGE+Au
mineralization in three of three 2020 core drill holes. CLICK HERE
for ValOre’s news release dated October 27, 2020.
About WorldView Spectra
Data
CLICK HERE for ValOre’s summary of WorldView
spectral data, and CLICK HERE for additional information from
DigitalGlobe™ on the Hi-Res WV-3 orbiting system.
Qualified Person (QP)
The technical information in this news release
has been prepared in accordance with Canadian regulatory
requirements set out in NI 43-101 and reviewed and approved by
Colin Smith, P.Geo., ValOre’s VP Exploration.
About ValOre Metals Corp.
ValOre Metals Corp.
(TSX‐V: VO) is a
Canadian company with a portfolio of high‐quality exploration
projects. ValOre’s team aims to deploy capital and knowledge on
projects which benefit from substantial prior investment by
previous owners, existence of high-value mineralization on a large
scale, and the possibility of adding tangible value through
exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of
the Pedra Branca Platinum Group Elements (PGE) property, in Brazil,
to bolster its existing Angilak uranium, Genesis/Hatchet uranium
and Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 39
exploration licenses covering a total area of 39,987 hectares
(98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct
PGE+Au deposit areas host, in aggregate, a current Inferred
Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million
tonnes grading 1.22 g/t 2PGE+Au (see ValOre’s July 23, 2019 news
release). All the currently known Pedra Branca inferred PGE
resources are potentially open pittable.
Comprehensive exploration programs have
demonstrated the "District Scale" potential of ValOre’s Angilak
Property in Nunavut Territory, Canada that hosts the Lac 50 Trend
having a current Inferred Resource of 2,831,000 tonnes grading
0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure
related to the inferred resource for the Lac 50 Trend uranium
deposits, please refer to ValOre's news release of March 1,
2013.
ValOre’s team has forged strong relationships
with sophisticated resource sector investors and partner Nunavut
Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold
Properties. ValOre was the first company to sign a comprehensive
agreement to explore for uranium on Inuit Owned Lands in Nunavut
Territory and is committed to building shareholder value while
adhering to high levels of environmental and safety standards and
proactive local community engagement.
On behalf of the Board of Directors,
“Jim Paterson”
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about, ValOre Metals
Corp. or this news release, please visit our website at
valoremetals.com or contact Investor Relations at 604.653.9464, or
by email at contact@valoremetals.com.
ValOre Metals Corp. is a proud member of
Discovery Group. For more information please visit:
discoverygroup.ca
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release contains “forward-looking
statements” within the meaning of applicable securities laws.
Although ValOre believes that the expectations reflected in its
forward-looking statements are reasonable, such statements have
been based on factors and assumptions concerning future events that
may prove to be inaccurate. These factors and assumptions are based
upon currently available information to ValOre. Such statements are
subject to known and unknown risks, uncertainties and other factors
that could influence actual results or events and cause actual
results or events to differ materially from those stated,
anticipated or implied in the forward-looking statements. A number
of important factors including those set forth in other public
filings could cause actual outcomes and results to differ
materially from those expressed in these forward-looking
statements. Factors that could cause the actual results to differ
materially from those in forward-looking statements include the
future operations of ValOre and economic factors. Readers are
cautioned to not place undue reliance on forward-looking
statements. The statements in this press release are made as of the
date of this release and, except as required by applicable law,
ValOre does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise. ValOre
undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of ValOre, or its
financial or operating results or (as applicable), their
securities.
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